Updates, advisories and surprises

(10:27 AM ET) NEW YORK (MarketWatch) -- Hibbett Sports Inc.
HIBB, -0.82%
shares sank 6.1% Friday after the sporting goods retailer said its second-quarter earnings nearly quadrupled from a year earlier, but still missed analysts' expectations. Net income for the period came in at $4 million, or 14 cents a share, from $1.1 million, or 4 cents a share, in the year-ago period. Analysts, on average, however were looking for earnings of 16 cents a share. Quarterly net sales grew 13.6% to $139.8 million. Same-store sales increased for the second straight time, up 11.9%, from the year-ago quarter.

Salesforce.com shares rise 11%

(9:55 AM ET) SAN FRANCISCO (MarketWatch) -- Salesforce.com Inc.
CRM, -0.96%
shares rose $10.71, or more than 11%, to $107.19 Friday. Late Thursday, the online business-software company said it earned $14.7 million, or 11 cents a share, compared with a profit of $21.2 million, or 17 cents a share, during the same period a year ago Revenue rose to $394.4 million from $316.1 million in the year-ago period. Excluding one-time items, Salesforce would have earned 29 cents a share, while analysts surveyed by Thomson Reuters had forecast the company to earn 27 cents a share on revenue of $384.8 million.

Retail stocks start off lower

(9:49 AM ET) NEW YORK (MarketWatch) -- Retail stocks edged lower at Friday's open, extending prior session's losses on the back of disappointing Sears Holding Corp.'s
SHLD, -6.50%
results. The S&P Retail Index
RLX, +0.00%
inched lower to 408 points. Several department store operaters started off in the red. Shares of Macy's Inc.
M, -1.46%
and Saks Inc.
SKS, +2.01%
each shed over 1% in early trading. Shares of women's retailer Ann Taylor Stores Corp.
ANN, +2.12%
held up as one of the bright stops, up 3.2% after it swung to a quarterly profit.

Ann Taylor swings to quarterly profit

(8:01 AM ET) NEW YORK (MarketWatch) -- Ann Taylor Stores Corp.
ANN, +2.12%
said Friday it swung to a second-quarter profit of $18.6 million, or 31 cents a share, from a loss of $18 million, or 32 cents a share, in the year-ago period. Analysts polled by FactSet Research expected the retailer to earn 32 cents a share, on average. Quarterly net sales rose to $485.3 million, from $470.2 million last year, with same-store sales up 6.1%. Total brand comparable sales at its namesake divisions rose 15.2%. "The Ann Taylor brand delivered an excellent quarter as momentum continued to build since the brand's evolution began in Fall 2009," said Chief Exectuive Kay Krill. The women's retailer also announced an expansion of its share repurchase program to $400 million. The retailer expects to bring in $495 million in sales for the third quarter and sales of about $1.95 billion for the full year.

Corinthian profit up 46%; eyes regulatory changes

(7:58 AM ET) NEW YORK (MarketWatch) -- Corinthian Colleges Inc.
COCO, -3.09%
said Friday its fourth-quarter profit rose to $33.9 million, or 38 cents a share, from $23.2 million, or 26 cents a share, in the year-ago period. Revenue rose to $482.7 million, from $353.5 million. Wall Street analysts expected the education firm to earn 39 cents a share, on revenue of $477.3 million, according to a survey by FactSet Research. For the first quarter, the company said it expects earnings of 38 cents to 41 cents a share, compared to the Wall Street target of 44 cents a share. "We believe we have built a stronger company over the past few years, and that we are thus in a better position to adapt to any changes in regulation," the company said. Corinthian College shares fell 22% on Monday on worries that U.S. regulators will impose tighter regulations on student loans.

Hormel net income climbs 11%

(7:44 AM ET) NEW YORK (MarketWatch) -- Hormel Foods Corp.
HRL, +0.88%
said Friday its third-quarter net income climbed to $85.4 million, or 63 cents a share, from $77.2 million, or 57 cents a share, in the year-ago period. Revenue rose to $1.73 billion, from $1.57 billion. Wall Street analysts expected Hormel to earn 61 cents a share on revenue of $1.68 billion. The company lifted its adjusted 2010 earnings estimate to $2.85 to $2.91 a share, up from $2.75 to $2.85 a share. Wall Street analysts expected earnings of $1.80 a share for the year. During the third quarter, Hormel said its refrigerated foods and specialty store segments turned in a strong performance, while its grocery products unit lagged on higher raw material costs.

Wynn Macau first-half profit more than doubles

(7:43 AM ET) HONG KONG (MarketWatch) -- Wynn Macau Ltd.(HK:1128)announced Friday its first-half net profit more than doubled to 1.91 billion Hong Kong dollars ($245.7 million), from HK$903.7 million a year earlier, helped by industry-wide growth of Macau gambling revenue as well as income from a new Wynn casino-hotel property that opened in April. The company declared a dividend of 37 Hong Kong cents compared to 18 cents a year earlier. Wynn reported casino revenues of HK$9.5 billion compared to HK$6.3 billion a year earlier while other revenue totaled HK$629.1 million compared to HK$395 million a year earlier. Wynn Macau's Hong Kong-listed shares, which debuted last October, ended 1% higher Friday at the close, an hour before the results were announced.

Lorillard raises dividend, launches stock buyback

(7:39 AM ET) NEW YORK (MarketWatch) -- Lorillard Inc.
LO
said Friday it increased its quarterly dividend by 12.5% to $1.125 a share from $1. The Greensboro, N.C., cigarette maker also approved a $1 billion stock buyback program, funded from existing cash balances. This program does not obligate the company to acquire any particular amount of its common stock.

Smucker posts 5% rise in quarterly profit

(7:15 AM ET) NEW YORK (MarketWatch) -- J.M. Smucker Co.
SJM, +1.34%
said Friday its fiscal first-quarter earnings rose to $102.9 million, or 86 cents a share, from $98.1 million, or 83 cents a share, in the year-ago period. Analysts, on average, expected the food-services company to earn 96 cents a share, according to FactSet Research. Quarterly sales edged down slightly by $4 million to $1.04 billion. Its U.S. retail coffee unit saw a 7% rise in revenue while the oils and baking unit in the U.S. saw sales decline 11%. The company nudged up its 2011 sales growth outlook to "slightly ahead" of the originally-stated 3% due to recent pricing moves. It expects to earn $4.50 tp $4.60 a share for the full year.

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